Shanda Games acquires Mochi Media for $80 million in cash and equity
Shanda Games Limited ("Shanda”) (Nasdaq:GAME), a online game developer, operator and publisher in China, is acquire Mochi Media, a distributer of browser-based games. The total consideration for the transaction is approximately US$60 million in cash and US$20 million in ‘equity retention arrangements’.
Shanda said the transaction would combine its own online games
portfolio with Mochi Media’s network of 140 million active users,
thereby allowing the combined business to increase its ‘stickiness’
with its combined user community.
US based Mochi Media's platform offers game development products
and services which enable developers to track usage analytics,
distribute their games to thousands of websites, and monetize global
gameplays via in-game advertising and micro-transactions.
£Upon closing, the combined company will be a leading global
online game media platform with one of the largest international
distribution channels for the fast-growing online games sector. It will
have a large global user base with a robust portfolio of online games
and will benefit from proven monetization capabilities and access to
Shanda Games' talented pool of game developers,” Shanda commented.
Diana Li, CEO of Shanda Games, commented, "We are excited to be
bringing two of the best teams in the online game industry together in
the perfect marriage of content and platform. Mochi Media's impressive
array of browser-based games is an ideal complement to Shanda Games'
portfolio of nearly 70 multi-player online games.
With Shanda Games' ability to source robust content through multiple channels, and Mochi Media's reach to users, game developers and publishers worldwide through its leading innovative platform, this transaction positions Shanda Games to become a truly global online game media platform. We look forward to devoting our energy and focus to the integration process."
Jameson Hsu, co-founder and CEO of Mochi Media, commented,
"Shanda Games is the perfect partner to help take Mochi Media to the
next level. Mochi Media has created a successful distribution and
monetization platform, tying together a vast network of developers,
publishers, advertisers and players. The additions of Shanda Games'
extensive content catalog and proven monetization capabilities unlock
tremendous value on our platform for everyone involved."
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